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Eddie Stobart Group's revenues rise

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Eddie Stobart Group's revenues rise

Thursday, 13/5/2010 04:20
Haulage firm Eddie Stobart shrugged off the problems of a harsh winter and harsh economic conditions to report a rise in full-year revenue, the Financial Times reports.

The Stobart Group, which is dominated by its trucking operation, saw its revenue rise from £431 to £448 despite seeing a customer fall victim to the recession.

"Most of our deliveries are for the foods and drink sector, and that is more recession-proof than most other forms of transport delivery," Andrew Tinkler, the firm's chief executive told the FT.

Estimates that the poor winter weather could have lost cost the company as much as £500,000 provided further evidence of the industry's resilience.

Despite a tough 2009, Eddie Stobart remained upbeat about its prospects throughout and about the industry as a whole.

Last June it announced its pleasure at the way it had ridden out the economic storm and kept its performance "in line with expectations".
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